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From wire reports • Tuesday November 26, 2013 12:51 AM

MILAN, Mich. — Chrysler Group’s initial public offering has been delayed because the automaker
wasn’t able to resolve a routine tax issue quickly enough to complete the sale this year, two
people with knowledge of the matter said yesterday.

Chrysler needs a letter from the Internal Revenue Service to clarify tax liabilities after the
IPO, said the individuals, who asked not to be identified. The company didn’t want to proceed
without the letter, they said.

Bank advisers were considering a valuation of about $10 billion for Chrysler, people with
knowledge of the matter said last week.

The Chrysler board determined after speaking with the automaker’s underwriters that a share sale
in 2013 is no longer feasible, Turin, Italy-based Fiat said in a statement yesterday.

Chrysler will continue to work on the IPO as required by a United Auto Workers medical trust,
which is selling the shares, and an offering may be held in the first quarter, said Fiat, which has
a majority stake in Chrysler.